![](https://media-cdn.socastsrm.com/wordpress/wp-content/blogs.dir/2956/files/2024/09/67526579.jpg)
ssuaphoto / Depositphotos.com
A new report shows there could be a windfall of tax oil tax revenue in North Dakota if a new technique is implemented on a large scale.
The process is called enhanced oil recovery, achieved by injecting gas into the oil well. The most typical gas used is carbon dioxide. New studies show that this can lead to a great increases in oil production from current wells, leading to over $9 billion in additional oil-tax revenue over a decade for the state.
North Dakota Governor Kelly Armstrong, Tax Commissioner Brian Kroshus, and the Armstrong-chaired state Industrial Commission all support the process being implemented state wide, and called on the federal government to enact new funding policies to free up money to upgrade wells across the country.
North Dakota is currently the third-highest oil-producing state in the country.
Comments